How to Paint a Bright Future with ESOPs
PaintED Show • 58m
Become a PCA Member: https://www.pcapainted.org/membership-resources/
Employee Stock Ownership Plans (ESOPs) are a powerful tool for rewarding and retaining your painting staff, as well as creating a culture of ownership and accountability. In this episode, we talk to Kevin Johnson, the CEO of Kocolene, a business formed 85 years ago as a family business that transitioned to an ESOP in 2008. Kevin share the story of why the family decided to sell the company to the leadership team, how they structured the deal, and what benefits the entire company has experienced since becoming an ESOP. Where you are a painting business owner looking for an exit strategy, or a key employee interested in owning a stake in your company, this episode will give you valuable insights and tips on how to make ESOPs work for you.
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